Steve Dew

Features and News

ConvergEx: ETF Flows Mirror Larger Trends

Action in ETFs is a window on the investment world in general, ConvergEx’s Colas says.

Features and News

US ETP Assets Seen At $2 Trillion In 2013

The global ETP industry is on a roll, and U.S. assets could hit $2 trillion by 2013.

Features and News

JP Morgan Tweaks Planned Copper ETF

J.P Morgan, which filed for the first-ever physical copper exchange-traded fund in October, submitted its second amended set of registration documents for the proposed fund with the Securities and Exchange Commission earlier this week.

The company hasn't yet revealed a ticker or an expense ratio for its proposed copper fund. However, some of the new language in the amended documents provides a glimpse into the unique administrative aspects of running a fund backed by a physical commodity.

J.P. Morgan's fund is designed to give investors exposure to the spot price of copper, a material in increasing demand as emerging economies such as China and India develop their infrastructure. Many investors view copper, which is used in electricity transmission grids and telecommunications infrastructure, as a bellwether for the global commodity.

Currently, investors looking for copper exposure only have miner's funds, such as the Global X  Copper Miner's ETF (NYSEArca: COPX) or First Trust's ISE Global Copper Index Fund (NasdaqGM: CU). The iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEArca: JJC) tracks copper futures.

JJC’s price has risen more than 30 percent in the past year. The ETN had $257.1 million in assets as of Jan. 27, according to data compiled by IndexUniverse.com.

Warehousing Details

The fund's net asset value, for instance, will be computed daily using the official settlement price per metric ton of Grade A Copper on the London Metals Exchange, plus a weighted average "locational premium" for the fund's copper held in its various warehouse locations.

The trust is permitted to hold copper in warehouses in the Netherlands, Singapore, South Korea and the United States. In its latest paperwork, J.P. Morgan removed references to warehouses in Germany, Belgium, Italy, Spain and the United Arab Emirates.

To create shares, which must be in blocks of 2,500, authorized participants must take delivery of at least 25 metric tons of copper to the fund's authorized warehouse-keeper.

 

Features and News

Pax Launches Sustainable EAFE ETF

Pax World, the Portsmouth, N.H.-based money management firm focused on so-called sustainable investing

Features and News

NYSE Euronext Led ETF Listings In 2010

NYSE Euronext, the parent of the largest U.S.-based ETF trading platform, NYSE Arca, said this week that it was the worldwide leader in new exchange-traded product listings in 2010, a year of both robust growth and soul-searching for the ETP industry.

Features and News

Siegel: Stocks Poised For More Gains

Bumps in the road notwithstanding, Wharton’s Siegel sees further stock gains.

Features and News

Vanguard: US Poised For Growth In 2011

The U.S. economy may be turning a corner, Vanguard cautiously predicts.

Features and News

Vanguard Puts 3 Muni Bond ETFs On Hold

Vanguard yanks three muni bond ETFs from registration—for now.

Features and News

Dec. ETF Short Report: Energy Prices Rising

Rising oil prices rear their head, as short interest in energy ETFs declines.